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20121201
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aren't you shopping? i question your patriotism. >> i bought enough stuff from china and thrown it away already. >> right now for valentine's day shopping we have to solve that long beach strike. >> clerical workers. >> you can't get things i want to start shopping for for valentine's day the moment christmas and hanukkah is over. you have to start shopping for the next day. that will be constrained because of the port strike. >>> when we come back, house majority whip kevin mccarthy did sign this offer from the gop. can he convince the white house to back the republican solution to the fiscal cliff? one more look at futures on a tuesday morning as melissa said. not a lot of data today. just wait until the next three days. it all starts with adp, jobs coming up later this week. more "squawk on the street" back in a minute. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy
think the world will look like. it's fascinating. it shows china on the rise, the west in decline and china overtaking the united states in size of economy by the year 2030. here are the key findings of the new intel report. it's interesting reading. a majority of the world's population by 2030 will be out of poverty for the first time in world history. there will be wars over food and water and natural resores. populations will continue to rise and there will be recurring global economic crises but when you think about this, you think about how far we're going here. you've got asia, china in particular will be dominant. it will be stronger than its been anytime since middleages. there will be no more pax americana as its known. china will be a big driver and india will be growing like china is today. they talk about how the world is changing. it's like no other time since the french revolution. remember in the late 18th century, the industrial revolution, except it's happening more quickly. it's taking a tenth of the time for china and asia to rise quickly. let me read to you som
't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing suddenly got off the rails. take a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american
public health things being done and the rest of the world that is dominateing india and china, but in the 60's they missed. the market economies are good and they grow their economies and they are catching up. today when we land, 2010, these are the countries that borrow money to the richest when they have their problems. >> in my mind this raises two questions, or two amazing results from this. there have been thousands of years of human history and everyone was stuck on the lower left for thousands of years, it has been 200 years that you have all of this activity and how come some countries are still stuck? >> it is easy to understand. the best message today is that most of the african cntries are now in fast economic growth. they have corrected the wrong market ideas they had 20 years ago, and they have a much better education than, -- and tanzania is similar to thailand in 1972 and soon we will see african countries doing good. this is wonderful. our problems are solved w know what works and we will be rich. >>guest: no, we have this problem with two billion human beings
than 2 million in iphone 5s in china just over the last three days. that's the best ever debut for the iphone line in china. apple is china's second biggest market, although it did lose a lot of market share while they were waiting for that i5 to come out. and citi research has downgraded apple from a hold to a buy. you can see there just below $500. >>> also, the national association for business economics growth in 2013 to come in at 2.1% after growing by 2.2% in 2012. that would continue the same tepid growth that the country has seen since the recession ended back in mid 2009. >>> and the nation is mourning the horrific event of friday in newtown, connecticut. president obama spoke last night about change. >> we can't kol rate this any more. these tragedies must end. and to end them, we must change. we will be told that the causes of such violence are complex, and that is true. no single law, no set of laws can eliminate evil from the world or event every senseless act of violence in our society. >>> and earlier in the day, new york city mayor michael bloomberg called on th
in tomorrow and said, get everybody out of china and do whatever you have to do, make these, make everything you make in the united states. what would that do to the price of this device? >> i honestly -- it's not so much about price, it's about the skills, et cetera. over time there are skills that are associated with manufacturing that have left the u.s. not necessarily people but the education stops producing them. >> that's sad. how do we get that back? sbl well, it is a concerted effort to get them back. with this project that i've talked about where we will do a mac in the united states next year? i think this is a really good another step for us. the consumer electronics world was really never here. so it is not a matter of bringing it back, it is a matter of starting it here. >> good morning. thanks for joining us here. >> reporter: while steve jobs liked to avoid the spotlight, he also thrived on it. it was as if he was selling products that were pieces of his own soul. he was inventor, pitchman and new wave pid piper all in one. big boss coming through. big boss, people. look alive
transportation. i'm concerned about education. i'm concerned about cutting in all of these areas that make china -- give china a bigger advantage as we move forward that give our global competitors a bigger advantage. that's what really concerns me. >> two quick observations. if you're in business and you're told we've got to make changes at our budget and you look at 6%, 15% of your budget, 9% of your budget, you've got to make cuts, you look at the 60% first and say where can we make manufacture she's cuts. talk about not endangering our ability to compete and win going forward, you don't want to cut those areas as steve has talked about eloquently many times, there are advantages which means you have to look at entitlements. and i think to michael's point, i think there's credit to that. two, i like the fact that boehner now is in a stronger position with his caucus because if indeed they find a deal, that means he can win a majority of his people over. i like the fact that nancy pelosi's in a strong position with her caucus. so the pieces are not only coming together substantively, they're c
that well to suddenly, an inventory glut of shoes with china, maybe north america can make up with it. nike remains a great growth company, a lot of cash, good dividend. i think if it gets hit, unless they can -- remember, china is coming back. so, theoretically, that's what the stock market upped the most since august 2010, it comes back, then nike represents great value. >>> when we come back this morning, a lot more on that deal of the day intercontinental exchange buying the nyse parent, nyse euro next, a live interview with the ceos of both of those companies. meantime, take one more look at futures after the worst day of the month yesterday. futures rebounding a bit. a lot more from squawk on the streets, post nine, at the nyse, when we return. st >>> herbalife is one of the stocks to watch this morning after bill ackman says he is shorting the stock, calling you the company a pyramid scheme. ackman will outline his herbalife argument at an investment presentation in new york city herbalife ceo defended his company yesterday on cnbc. >> this is about bill acman's business model. this
are not as bad with fiscal cliff. china not as bad as we though, u.s. very strong. so nike, if it goes back to 97, it means we're going to have a real bad couple of days in my view. look at red hat. red hat is a technology company that is deeply involved in the cloud. they, too, had a better than expected number, as did oracle in the cloud. so these are my two tales for the trading today, david. if you pick the best of the best and they go down, you'll really have a couple of -- >> when it comes to the so-called cloud play and the use of it in the competition here, is that one of the key names? >> yes, it allows you to manage cloud in a cheap -- an anti-microsoft business. their partner is sales force.com. i'm really using these as tells. in other words, these are the ones where there's natural buyers. as we just found out how good things are. it wasn't like we found out a month ago. we just found out last night. if they have resilience, the market is going to be more resilient than people think. if they give up the ghost, i think next week's going to be difficult, too. >> all right. we'll be wat
the stock, says its recent problems in china, only temporary. at this price $68 a share. 68 they say heading higher. goldman is downgrading darden restaurants. t it says -- it says the turnaround at olive guaarden is slow. it is down. boston beer makes sam adams beer, it expects to make more money next year, simple reason it is selling more beer. the stock hit all-time high today. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. stuart: the federal reserve is going to start tying interest rates to the unemployment rate. ben bernanke says he will not raise interest rates until unemployment is down to 6 1/2%. there's the link. all rise, judge andrew napolitano. i haven't even got his name out and he is shaking his head. what's so wrong with the federal reserve saying l
the currency is faring today against the u.s. dollar. [ male announcer ] how can power consumption in china, impact wool exports from n zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understandhe connections of a complex, global economy. it's ju one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort dsn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means.s...fish on! symbicort is for copd including chronic bnchitis and emphysema. it should not be taken more than twice a day. symbirt may increase yo
.s. economy will go into recession. we closed down our manufacturing in china and relocated it in the usa. for other companies to follow our lead, they need to trust our leaders in washington will actually lead. think outside the box, great incentive for businesses to invest in the u.s. economy. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. what starts with adding a friend... ♪ ...could end with adding a close friend. the lexus december to remember sales event is on. this is the pursuit of perfection. >>> financials have been on fire for most of 2012. but interest rates and regulation are still putting some profit margins under pressu pressure. here's what's in store for 2013. >> reporter: after a year's l
is performing very well. they have geek squad. and they have a fast-growing chain in china. so for all its problems, i do believe that schulze believes that there is things that they can do to save the company and not only save it but make it prosperous. >> just before we let you go, do you have any appreciation as to what might be an acceptable offer? i mean, are there figures being bandied around from the other side? >> yeah. we've heard that best buy would be comfortable with $20 a share. now, whether or not they get that or not, i don't know. but i think it's interesting that the buzz is out there that the company would be open to $20 a share. you certainly would have heard that just a few months ago when this whole process started. >> thomas, congratulations on your exclusive. it's good to see you. thomas lee from "the minneapolis star-tribune." thank you. >> thank you. >>> speaker boehner coming out just moments ago saying the president needs to step up in the fiscal cliff negotiations. the democratic leadership is preparing to respond. we will bring you comments from senators harry
to handle manufactured goods from china. it's also the largest port on the east coast. now, last year this port handled $208 billion in cargo. we're talking about products like furniture and also apparel. in 2002, we saw a west coast port lockout. estimates suggest that that cost the economy $1 billion a day. and as with the fiscal cliff, there's a political angle with the container cliff as well. business groups are asking president obama to use his emergency powers under taft hartley to prevent a strike. president bush did that back about ten years ago. while a strike will cause major disruptions, there are alternatives for transporting goods, rail and also air are options, but of course those options are not cheap. >> back in november, our members started putting contingency plans into place. the options were either divert containers to west coast ports, bring merchandise in earlier, use canada or mexico, or use air freight. but all of those come at a significant cost as well. >> now, the deadline is 12:01 tomorrow night. and i think it's safe to say that retailers are hoping we co
going to compete with china with 1.3 billion people? the answer is we can have the entire world at our disposal by creating conditions that the best people in the wormed can come to the united states and study. >> and stay and start businesses. >> two, then we have to focus on faction, particularly the corporate tax reform, to get a system which is simpler and promotes efficiency and makes it easier for businesses to compete if the world. third, then we have to -- that will create -- that will be enormous. third, then there is a infrastructure investment that needs to be made. this is very important because in the context of the kiped of budget deal we'll get where we'll spend less going forward as businesses, we have to think about what our values are with respect to what we'll spend money on. the most important things we can spend money on is infrastructure to again create -- make investments in the future rather than just short-term spending. and then twin that with important support for research, basic research, and for higher education as drew talked about. and for education. thos
individual on the part of the house to the united states china economic and security review commission for a term to expire december 31, 2014. the clerk: mr. larry wortzel of virginia. the speaker pro tempore: pursuant to clause 12-a, rule 1, watched documents and links about the fiscal cliff. over the next several hours, the latest on the negotiations over the so-called fiscal cliff. in a few moments, president obama, who also talked about preventing gun violence. it will hear briefly from house speaker john boehner, followed by house minority leader nancy pelosi. later the comments of senator kent conrad. >> if you work for him, you would get a mercurial, sometimes generous, sometimes overbearing, sometimes almost cruel loss. he did not know how to apologize. men of his age and class are not going to apologize for yelling at a secretary or typist. he had a way of turning the tables. his version of an apology would be saying actually i am a very kind man and you were doing a very good job today. the issue was never settled. he always had to get the last word in. one night going throug
Search Results 0 to 15 of about 16